The Australia-based Tigers Realm Coal (TIG) plans to sell coal mining and transportation enterprises operating in the territory of the Chukotka Autonomous Region to the Russian company APM-Invest.
The value of the transaction will amount to $49 million, the Chukotka news agency reports, citing the TIG press service.
The deal includes three companies: the mining company Beringpromugol, the management company Beringuginvest and the exploration asset North Pacific Coal Company. Together with them, the buyer will receive mining licenses.
TIG has been producing coking and thermal coal in Chukotka since 2016. The company operates at the Fandyushkinskoye Field, located 37 km from the Beringovsky port. From there, coal is supplied mainly to the countries of the Asia-Pacific region.
In 2023, the company produced 1.6 million tons of coal, net profit amounted to 2.555 billion rubles.
Alex Shishlo for Rough&Polished
